The loss-making company was valued at $3.56bn in 2021 after the pandemic helped to drive strong demand for its products. It is now valued at around $140m.
On Friday, iRobot’s shares fell by more than 13% on the technology-heavy Nasdaq trading platform in New York.
iRobot said the bankruptcy filing was not expected to disrupt its app, supply chains or product support.
Founded in 1990 by three members of the Massachusetts Institute of Technology’s (MIT) Artificial Intelligence Lab, iRobot initially focused on defence and space technology before launching the Roomba in 2002.
The Roomba holds about 42% of the US market share and 65% of the Japanese market share for robotic vacuum cleaners, according to the company.
Last year, a planned $1.7bn…